Vanguard buy error? No.

[Vanguard User]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

[JamesSFO]

What does the transaction/order confirmation say when you are logged in? Have you tried calling them?

Difficult for us to say without knowing a bit more.

[Vanguard User]

What does the transaction/order confirmation say when you are logged in? Have you tried calling them?

Difficult for us to say without knowing a bit more.

$381.02. Really disappointed. It’s not a big deal as I leave $100 in my checking at all times.

[JamesSFO]

What does the transaction/order confirmation say when you are logged in? Have you tried calling them?

Difficult for us to say without knowing a bit more.

$381.02. Really disappointed. It’s not a big deal as I leave $100 in my checking at all times.

So still a bit difficult to understand what happened here.

1) What do you think you did? Sounds like you thought you were placing a mutual fund order for a fixed dollar amount—but $300.30 is an odd amount to buy...

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

3) Something else, in which case, calling Vanguard and asking what happened seems like the best course of action...

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

[Vanguard User]

What does the transaction/order confirmation say when you are logged in? Have you tried calling them?

Difficult for us to say without knowing a bit more.

$381.02. Really disappointed. It’s not a big deal as I leave $100 in my checking at all times.

So still a bit difficult to understand what happened here.

1) What do you think you did? Sounds like you thought you were placing a mutual fund order for a fixed dollar amount—but $300.30 is an odd amount to buy...

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

3) Something else, in which case, calling Vanguard and asking what happened seems like the best course of action...

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

Dear John Doe,

The following money movement request was submitted on 05/10/2022 at 12:48 PM, Eastern time:

From: Bank via electronic bank transfer
To: Vanguard Total Stock Market Index Fund Admiral Shares in the amount of $300.30
in account registration ending in XXXX


No further action is required of you at this time. However, if you have questions about your account activity or you didn't request this order and suspect fraud, please contact us.

Manage alerts


30 cents add on because I only keep $100 in my checking account.

[sycamore]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

This feels like a software developer interview question. I would start by speculating that something went wrong between the chair the user (you) sat in and the computer servers at your bank. That encompasses you, your computer & software, the network, Vanguard's software & servers, and the bank's software and servers. And all the third-party software that might be involved too Upon realizing I had not actually narrowed down the problem scope at all, and with no further information available to debug things, I'd look for another job!

More on topic, I would wait until tomorrow and then check both (1) Vanguard transaction confirmation (and/or history) and (2) your checking account transactions. Hopefully things will have sorted themselves out overnight.

[JamesSFO]

Yeah that's an odd one then, have you called Vanguard?

[Vanguard User]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

This feels like a software developer interview question. I would start by speculating that something went wrong between the chair the user (you) sat in and the computer servers at your bank. That encompasses you, your computer & software, the network, Vanguard's software & servers, and the bank's software and servers. And all the third-party software that might be involved too Upon realizing I had not actually narrowed down the problem scope at all, and with no further information available to debug things, I'd look for another job!

More on topic, I would wait until tomorrow and then check both (1) Vanguard transaction confirmation (and/or history) and (2) your checking account transactions. Hopefully things will have sorted themselves out overnight.

It’s not official yet since it’s pending at my bank.

[Vanguard User]

Yeah that's an odd one then, have you called Vanguard?

No. It’s too late for that right?

[adestefan]

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

This sounds like it was a market order placed after hours and the price bumped up in the overnight. Something like they placed an order for 10 shares with a close price of $30.03 and then the next morning it opened at $38.10

[Vanguard User]

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

This sounds like it was a market order placed after hours and the price bumped up in the overnight. Something like they placed an order for 5 shares with a close price of $60.06 and then the next morning it opened at $76.20

Shares may change but not dollar amount that I placed.

[H-Town]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

Just wait until you receive transaction confirmation from Vanguard.

[Vanguard User]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

Just wait until you receive transaction confirmation from Vanguard.

It said $300.30 in email.

[runninginvestor]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

[Vanguard User]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

Both. Only place it showed $300.30 was eMail confirmation.

[H-Town]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

Just wait until you receive transaction confirmation from Vanguard.

It said $300.30 in email.

Sure. Just wait until you can download the PDF confirmation from Vanguard website. Not worth your worry with a ~$80 difference in pending activity.

[Doc7]

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

This sounds like it was a market order placed after hours and the price bumped up in the overnight. Something like they placed an order for 10 shares with a close price of $30.03 and then the next morning it opened at $38.10

Nothing remotely resembling VTSAX has had a 25% overnight increase in the last few days…….

[Vanguard User]

I just bought $300.30 worth of VTSAX in my taxable account. Email said $300.30 but my checking account has me at $381.02. Why?

Just wait until you receive transaction confirmation from Vanguard.

It said $300.30 in email.

Sure. Just wait until you can download the PDF confirmation from Vanguard website. Not worth your worry with a ~$80 difference in pending activity.

Right.

[Vanguard User]

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

This sounds like it was a market order placed after hours and the price bumped up in the overnight. Something like they placed an order for 10 shares with a close price of $30.03 and then the next morning it opened at $38.10

Nothing remotely resembling VTSAX has had a 25% overnight increase in the last few days…….

Either way I wanted to buy $300.30 worth.

[runninginvestor]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

Both. Only place it showed $300.30 was eMail confirmation.

So $381.02 was actually added to your vtsax position? Or was it just the $300.30?

[Vanguard User]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

Both. Only place it showed $300.30 was eMail confirmation.

So $381.02 was actually added to your vtsax position? Or was it just the $300.30?

$381.02.

[runninginvestor]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

Both. Only place it showed $300.30 was eMail confirmation.

So $381.02 was actually added to your vtsax position? Or was it just the $300.30?

$381.02.

Ah thank you. That's annoying. Def a mistake and I'd let them know. But I'd wager it'd also be very annoying fix trying to interact and get it straightened with customers service.

[livesoft]

I got a 42% discount on NAV once from Vanguard: viewtopic.php?t=208793

What was the NAV and date for this transaction and how many shares did you get?

[adestefan]

2) Is it at all possible you were placing a market order for an ETF (E.g. VTI which is the ETF of VTSAX) instead and thought that you would get that price instead of the market price (e.g. you placed an order for a specific number of shares rather than a $ amount)?

I'm guessing 2 (because $300.30 is such a strange amount to buy of a mutual fund)

This sounds like it was a market order placed after hours and the price bumped up in the overnight. Something like they placed an order for 10 shares with a close price of $30.03 and then the next morning it opened at $38.10

Nothing remotely resembling VTSAX has had a 25% overnight increase in the last few days…….

Haha. I completely missed it was VTSAX in original post.

[Vanguard User]

I'd wait until everything settles (or moves and shows up). Did $300 get added to your position ? Or the amount your bank is listing?

Both. Only place it showed $300.30 was eMail confirmation.

So $381.02 was actually added to your vtsax position? Or was it just the $300.30?

$381.02.

Ah thank you. That's annoying. Def a mistake and I'd let them know. But I'd wager it'd also be very annoying fix trying to interact and get it straightened with customers service.

Yes.

[Vanguard User]

I got a 42% discount on NAV once from Vanguard: viewtopic.php?t=208793

What was the NAV and date for this transaction and how many shares did you get?

I can get a share discount from Vanguard?

[crefwatch]

Vanguard issues confirmations for mutual fund transactions. Exactly what does the regulated confirmation say? Your internet checking notice is not a "confirmation." Mutual funds are only priced once a day.

[JamesSFO]

Yeah that's an odd one then, have you called Vanguard?

No. It’s too late for that right?

I mean it's now a new day... if a different amount of money then you expected got withdrawn time to make a call.

[Vanguard User]

Vanguard issues confirmations for mutual fund transactions. Exactly what does the regulated confirmation say? Your internet checking notice is not a "confirmation." Mutual funds are only priced once a day.

It posted for $381.02 at my bank but also see a pending of $300.30 at my bank.

[Vanguard User]

Yeah that's an odd one then, have you called Vanguard?

No. It’s too late for that right?

I mean it's now a new day... if a different amount of money then you expected got withdrawn time to make a call.

Can they reverse it?

[JamesSFO]

Yeah that's an odd one then, have you called Vanguard?

No. It’s too late for that right?

I mean it's now a new day... if a different amount of money then you expected got withdrawn time to make a call.

Can they reverse it?

Call them... find out what they see and what they can do...

[Vanguard User]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

[exodusNH]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF.

Vio moves funds pretty quickly if you do it before the early afternoon.

As for your EF, what are your monthly expenses?

Also, leaving a float of only $100 in your checking seems unnecessarily dangerous. The amount of interest you're earning on $3000 doesn't seem worth the risk -- one mistake could wipe years of interest. (Not to mention the mental effort it takes to balance on the knife point.)

I target about $5k in my primary checking account, 9 months of mortgage, property taxes, and insurance in HYSA and 3 months in short-term bonds.

The rest of my money is allocated for retirement.

Even at 1% interest, $5k is only going to generate ~$50 a year. One bounced check wipes that out. If that winds up as a late payment, the hit to my credit score would cause even more damage.

[H-Town]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

let's fix the title.

[Vanguard User]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

let's fix the title.

To what?

[Cheez-It Guy]

Vanguard User buy error.

[RubyTuesday]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

let's fix the title.

To what?

Vanguard user memory error

[Cheez-It Guy]

Another unintentional Vanguard black eye thread.

[Vanguard User]

Vanguard User buy error.

I changed it to something different.

[Vanguard User]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

let's fix the title.

To what?

Vanguard user memory error

Looks like it.

[Vanguard User]

Another unintentional Vanguard black eye thread.

My mistake. Overall I’ve had good experience.

[Cheez-It Guy]

Vanguard User buy error.

I changed it to something different.

I saw. Thanks! I'm just kidding around with your topical username.

[Vanguard User]

Vanguard User buy error.

I changed it to something different.

I saw. Thanks! I'm just kidding around with your topical username.

My other accounts are at Fidelity. Only taxable VTSAX at Vanguard.

[Cheez-It Guy]

Multiple Brokerage User

[H-Town]

Vanguard User buy error.

I changed it to something different.

I saw. Thanks! I'm just kidding around with your topical username.

My other accounts are at Fidelity. Only taxable VTSAX at Vanguard.

I applaud your enthusiasm. It may just be $300 today, but it will become $3 million in the future. Keep up that attitude.

[Vanguard User]

Multiple Brokerage User

Is there a way to change it?

[Vanguard User]

Vanguard User buy error.

I changed it to something different.

I saw. Thanks! I'm just kidding around with your topical username.

My other accounts are at Fidelity. Only taxable VTSAX at Vanguard.

I applaud your enthusiasm. It may just be $300 today, but it will become $3 million in the future. Keep up that attitude.

$300 becoming $3M?

[Cheez-It Guy]

Multiple Brokerage User

Is there a way to change it?

I think board admins can change it for you if you desire. I THINK I remember that being done before?

[H-Town]

I changed it to something different.

I saw. Thanks! I'm just kidding around with your topical username.

My other accounts are at Fidelity. Only taxable VTSAX at Vanguard.

I applaud your enthusiasm. It may just be $300 today, but it will become $3 million in the future. Keep up that attitude.

$300 becoming $3M?

No it won't. But multiple savings until it hurts might.

[JamesSFO]

Discovery: I actually did 2 transactions.

$381.02 last Friday when I got paid. It waited till a business day to buy because it was after hours on Friday. I had forgot about that.

Another one was $300.30 on Monday. I thought I had enough funds in my checking to cover that. I do have overdraft protection through my Wells Fargo credit card so that should not generate any overdraft fees right? I already initiated a transfer of enough funds to my checking from Vio bank so it would have a positive balance. Not sure if the funds are going to be available tomorrow in my checking.

I keep $3k for EF. $1k of that is in iBonds now. I have been told to add more EF. Next paycheck I will use some of the funds to get to $2k in my EF.

Glad you got to the bottom of it at least also glad it wasn’t a terrible impact for you.